Brazil Declines Belt and Road Initiative | 08 Nov 2024

Despite having strong economic ties with China, Brazil has opted not to join China's Belt and Road Initiative (BRI), making it the second BRICS nation to make this choice after India.

About BRI
- BRI is China’s strategic initiative that aims to connect Asia with Africa and Europe via land and maritime networks with the aim of improving regional integration, increasing trade and stimulating economic growth.
Components:
- Silk Road Economic Belt: This segment of the BRI is dedicated to improving connectivity, infrastructure, and trade links across Eurasia through a network of overland transportation routes.
- Maritime Silk Road: This component enhances maritime connections and cooperation starting in the South China Sea, extending to Indo-China, Southeast Asia, and across the Indian Ocean to Africa and Europe.
Key Corridors for Development:
- China-Pakistan Economic Corridor (CPEC)
- New Eurasian Land Bridge Economic Corridor
- China-Indochina Peninsula Economic Corridor
- China-Mongolia-Russia Economic Corridor
- China-Central Asia-West Asia Economic Corridor
- China-Myanmar Economic Corridor